gold

US Open Preview – Pound faces headwinds as UK unemployment rate rises; Fed meeting minutes pending

Posted on February 21, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: Although British average earnings (excluding bonuses) in January appeared stronger than expected, reaching the highest growth in a year, pound/dollar eased to a one-week low of 1.3913 (-0.51%) as the unemployment rate rose surprisingly for the first time since June 2015 in the three months to December. In Brexit news, more than 60 Conservative members wrote a letter to the UK Prime Minister, Theresa May, demanding a clean exit from the [..]

European Open Preview – Dollar continues to recover ahead of Fed minutes; eurozone PMIs & UK employment data in focus

Posted on February 21, 2018 at 8:55 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.2% higher on Wednesday ahead of the release of the FOMC minutes, extending the notable gains it posted yesterday. STOCKS: US equity markets closed lower on Tuesday. The Dow Jones fell the most, closing 1.0% lower, while the S&P 500 declined by 0.6%. The Nasdaq Composite retreated as well, but by less than 0.1%. The volatility index (VIX) also moved up, suggesting that the recent turmoil in equity [..]

Technical Analysis – Gold eases near 23.6% Fibonacci level; looking bearish in short-term

Posted on February 20, 2018 at 3:07 pm GMT

Gold is heading south following the strong pullback on the 1361.40 resistance level on Friday. Having a look at the short-term timeframe the price almost hit the 23.6% Fibonacci retracement near the 1335 level of the last up-leg with the low of 1236 and the high of 1366. The bearish correction is confirmed by the MACD oscillator. In the 4-hour chart, the MACD is falling near the zero line and below its trigger line, while the stochastic oscillator posted a bullish crossover in the oversold zone, suggesting [..]

US Open Preview – Dollar extends rally as US issues new debt; European stocks mixed

Posted on February 20, 2018 at 12:34 pm GMT

Here are the latest developments in global markets: FOREX: The dollar continued to stretch higher, breaking slightly above the 107 key-level versus the yen (+0.51%) and rising towards 89.67 (+0.65%) against a basket of major currencies. Despite risks remaining in the background, including a ballooning US budget deficit and potential policy tightening by other central banks which might attempt to play catch up with the Fed, the dollar finally found support from rising US Treasury yields. Pound/dollar jumped above 1.40 to touch an intra-day high of 1.4014 on the news that the EU parliament [..]

European Open Preview – Dollar bounces from 3-year lows; business surveys and dairy auction due

Posted on February 20, 2018 at 8:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.4% higher on Tuesday, drawing some support from an uptick in the yields of longer-dated US Treasuries. The index rebounded on Friday after touching a fresh 3-year low, and has continued recovering since. STOCKS: US markets remained closed yesterday in celebration of the President’s Day holiday. Earlier on Friday, the S&P 500 and the Dow Jones closed marginally higher, though the Nasdaq Composite fell 0.2%. Moreover, futures tracking the S&P, [..]

US Open Preview – Dollar trapped in negative sentiment; European stocks set for weekly gains

Posted on February 16, 2018 at 12:30 pm GMT

Here are the latest developments in global markets: FOREX: Despite rising US Treasury yields, the dollar was under pressure against its major peers, with traders attributing the phenomenon to concerns surrounding a potential ballooning US debt and the expectations that other central banks could start raising rates amid higher inflation prospects. Dollar/yen tumbled to a fresh one-year low of 105.54 during the Asian session before it inched up to 106.17 (-0.04%) in early European trading. The dollar index was struggling to [..]

European Open Preview – Dollar sinks to 3-year low; UK retail sales eyed

Posted on February 16, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded almost 0.3% lower on Friday, adding to the losses it posted yesterday and recording a new three-year low. The continued slide in the world’s reverse currency managed to push euro/dollar to 1.2555 overnight, marking a fresh high last seen in 2014 for the pair. Meanwhile, dollar/yen posted a new 15-month low. STOCKS: US equity indices continued to recover yesterday, amplifying expectations that the recent turbulence may be gradually [..]

European Open Preview – Dollar slides while stocks climb; jobless claims and IP gathering attention in the US

Posted on February 15, 2018 at 8:56 am GMT

Here are the latest developments in global markets: FOREX: The dollar index fell 0.4% on Thursday, extending the significant losses it posted on Wednesday in the aftermath of the US CPI and retail sales data. STOCKS: US markets finished the day notably higher yesterday, erasing earlier losses, despite the stronger-than-anticipated US inflation prints for January. The Nasdaq Composite led the charge, gaining almost 1.9%, while the S&P 500 followed in its tracks, closing 1.3% higher. The Dow Jones climbed 1.0%. Moreover, futures [..]

US Open Preview – Dollar struggles ahead of US CPI; European stocks bounce up

Posted on February 14, 2018 at 12:30 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was struggling to pare today’s losses, after touching a more than a year-low of 106.83 versus the yen and reaching a one-week-low of 89.37 against a basket of major currencies earlier today. Dollar/yen crawled slowly up to 107.47 (-0.36%) and the dollar index recovered modestly towards 89.65 (-0.06%) ahead of the US CPI figures which have the potential to shake the currency. Meanwhile, the Japanese government argued during the [..]

European Open Preview – Dollar and stocks await directional clues from US inflation

Posted on February 14, 2018 at 8:26 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.2% lower on Wednesday, ahead of key US inflation and retail sales data releases that could determine the currency’s short-term direction. STOCKS: US markets closed with modest gains on Tuesday, with investors appearing hesitant to take up large positions ahead of the US inflation data today, which could determine whether the recent turmoil will intensify or subside. The Nasdaq Composite was the leader of the pack, rising by [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms